Zacks Investment Research upgraded shares of MarineMax Inc. (NYSE:HZO) from a hold rating to a buy rating in a research note published on Wednesday. Zacks Investment Research currently has $24.00 target price on the stock.
According to Zacks, “MarineMax, Inc. is a recreational boat dealer in the United States. Through retail locations, the company sells new and used recreational boats and fishing boats with a focus on premium brands in each segment. “
Several other equities research analysts have also weighed in on the company. Forward View raised MarineMax from a hold rating to a buy rating in a research report on Thursday, July 28th. B. Riley reaffirmed a buy rating and issued a $22.50 target price on shares of MarineMax in a research report on Wednesday, July 27th. Five research analysts have rated the stock with a buy rating, MarineMax currently has a consensus rating of Buy and an average target price of $24.50.
Shares of MarineMax (NYSE:HZO) opened at 20.92 on Wednesday. The company’s 50-day moving average price is $19.91 and its 200-day moving average price is $18.60. MarineMax has a 52-week low of $13.56 and a 52-week high of $22.03. The stock has a market cap of $505.91 million, a PE ratio of 10.33 and a beta of 1.32.
MarineMax (NYSE:HZO) last issued its earnings results on Tuesday, July 26th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.12. MarineMax had a return on equity of 7.88% and a net margin of 5.55%. The firm had revenue of $345.60 million for the quarter, compared to analyst estimates of $268.34 million. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was up 49.1% on a year-over-year basis. Analysts expect that MarineMax will post $0.90 earnings per share for the current year.
In related news, VP Michael H. Mclamb sold 10,000 shares of MarineMax stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $21.10, for a total transaction of $211,000.00. Following the transaction, the vice president now directly owns 138,648 shares of the company’s stock, valued at $2,925,472.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Anthony E. Jr. Cassella sold 7,499 shares of MarineMax stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $21.50, for a total value of $161,228.50. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in MarineMax by 97.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,555 shares of the company’s stock worth $128,000 after buying an additional 3,733 shares during the last quarter. Bank of Montreal Can purchased a new position in MarineMax during the second quarter worth about $179,000. Louisiana State Employees Retirement System raised its position in MarineMax by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the company’s stock worth $183,000 after buying an additional 100 shares during the last quarter. Thrivent Financial for Lutherans raised its position in MarineMax by 4.8% in the second quarter. Thrivent Financial for Lutherans now owns 11,600 shares of the company’s stock worth $197,000 after buying an additional 530 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its position in MarineMax by 506.9% in the second quarter. Riverhead Capital Management LLC now owns 11,682 shares of the company’s stock worth $160,000 after buying an additional 9,757 shares during the last quarter. 96.25% of the stock is currently owned by hedge funds and other institutional investors.
MarineMax Company Profile
MarineMax, Inc is a recreational boat dealer in the United States. The Company engages in the retail sale, brokerage, and service of used boats, motors, trailers, marine parts and accessories and offers slip and storage accommodations in certain locations. It offers related boat financing, insurance and extended service contracts.
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